As many of you know, I’m not a fan….most Leases are defective (ground rent etc), high service charges, unscrupulous landlords (managing agents fees!) and they are a highly complex area of conveyancing.
You may find that many lawyers are stepping back from acting on certain leaseholds, as the burdens being placed on conveyancers is becoming laborious (and some lenders aren’t helping), so bear this in mind when looking for your next home or investment (although flats are necessary for those with limited choices, I do appreciate that).
The latest minefield for us to tackle is the Building Safety Act 2022. I’ll be doing an in-depth course covering this topic and others next month
For now, as a very brief summary, The Building Safety Act 2022 sets out safety requirements for landlords of higher-risk buildings. Higher-risk buildings are: at least 18m or 7 storeys high, with 2 or more residential units.